Chiral Quest (Suzhou) receives US$23m in finance
Some of the investment has been used to acquire a commercial scale manufacturing facility in Jiangxi province, China
Chiral Quest, a Chinese developer of processes and commercial manufacturing for pharmaceuticals, has completed financing of US$23m from existing and new investors.
The company has used some of this funding to acquire Jiang Xi Long Life Biopharmaceutical, which has commercial manufacturing facilities in Jiangxi province, China.
Chiral Quest will manufacture drug intermediates at Long Life, while maintaining research and development, quality assurance, and finance and business development in Suzhou, China.
The firm also plans to manufacture Active Pharmaceutical Ingredients (APIs) for the Chinese and overseas markets at Long Life.
‘Completion of the Series C financing and the purchase of the Jiangxi facility have firmly established Chiral Quest as a quality supplier of both chiral and achiral drug intermediates,’ said James Wu, Chief Executive.
‘The company already has an existing set of customers for innovator drug intermediates and is rapidly expanding its offering to the generic pharmaceutical market. This funding will accelerate the introduction of GMP at the Long Life site and provision of complex API’s to the growing generic market.’
